re: Partnering with friend(s) on a camp/boat

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Partnering with friend(s) on a camp/boat

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As for the boat. Partnering with people who could afford the boat and maintenance on their own but prefer not to can work and is a good way to disperse costs. Way more cost effective for, say, 3 people to own one boat than for each of them to own their own boat. The key is in selecting partners who will be responsible, understand the costs (including unexpected costs), and will be prompt in paying their share.

Partnering with other people because one or more of you couldn't afford the boat on their own is a recipe for disaster. You'll use the partnership as an excuse to buy more boat than you can afford and the disputes over maintenance and repairs are inevitable.

I've been in a few boat partnerships and all of them have gone quite smoothly.